MPC Container Ships to Buy Feeder Fleet for USD 130 Mn

Oslo-based boxship owner MPC Container Ships entered into a commitment to acquire a fleet of feeder container vessels on November 24.

The vessels in question have a total purchase price of USD 130 million.

The move was made only a day after the company closed its private placement raising a total of USD 175 million, with plans to use the funds “to pursue future investments in container vessels and general corporate purposes.”

The private placement of 30.25 million new shares was announced on November 22 and completed at a subscription price of NOK 47.5 (USD 5.8) per share.

MPC Container Ships informed that the completion is subject to approval by an extraordinary general meeting of the company which is expected to be held on or about December 4, 2017, the company said.

Established in April 2017, the company manage to quickly collect a fleet of 26 second hand vessels, the latest of which was added in early November.